Displaying items by tag: regulation

Warrington-based LJ Financial Planning has been fined £107,200 by the Financial Conduct Authority (FCA) for providing its customers with unsuitable pension switching and transfer advice and failing to manage its conflicts of interest.

Financial adviser numbers have risen by 1,400 (4%) since the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR), ending years of decline.

The FCA has launched High Court proceedings against a company and two individuals over alleged links to care home investments which saw investors lose more than £30m in a UCIS.

The Financial Services Regulatory Initiatives Forum has brought forward the launch of its Regulatory Initiatives Grid to today.

A company director is to be prosecuted by The Pensions Regulator (TPR) for failing to provide information and documents requested as part of an ongoing investigation.

Michael Woolley was asked to provide information about investments made by company Southbank Capital Limited, of which he is both a director and a shareholder.

The investments related to money and/or assets originating from 16 pension schemes for which PIM Trustees Limited is the trustee.

Mr Woolley is the sole director and a shareholder of the professional trustee firm.
 
He was accused of failing to comply with a notice issued under section 72 of the Pensions Act 2004 that required the information and documents to be provided by 12 February 2019.
 
Mr Woolley has been summonsed to appear at Brighton Magistrates’ Court on 13 November to face a charge of neglecting or refusing to provide information and documents, without a reasonable excuse, when required to do so under section 72 of the Pensions Act 2004, contrary to section 77(1) of that Act.
 
The case continues.